Ottawa, ON – Ted Falk, Member of Parliament for Provencher, responded today to the Liberal government’s Economic and Fiscal ‘Snapshot’.
Yesterday, Finance Minister Bill Morneau tabled the ‘Snapshot’ in the House of Commons, confirming that the Liberal government is running a deficit of $343.2 billion this year. Additionally, for the first time in Canadian history, the net federal debt will reach over $1 trillion. The ‘snapshot’ also shows a revenue loss of $71.1 billion, spending increases of $236.9 billion, and that the federal debt has increased to 49.1 per cent of GDP.
“These numbers are troubling to say the least,” said Falk. “But equally troubling is the Liberal government’s failure to outline a plan to help Canadians return to work and restart our economy.”
“Of all the G7 countries, Canada has the highest unemployment rate, is the only one to have lost its AAA credit rating, and is the only one lacking a recovery plan. Canada is falling behind,” Falk noted.
Canadians have experienced a variety of challenges as a result of the COVID-19 restrictions and Conservatives have worked to put forward constructive solutions to meet the needs of workers, families, and small businesses through this time. Falk says the focus must now turn to economic recovery.
“Conservatives know Canada’s economic strength lies in our people. Our economic recovery will be driven by Canadians’ hard work, innovation, and entrepreneurial spirit. That’s why Conservatives are fighting to get workers and local businesses back on their feet as soon as possible.”
“I continue to work with my colleagues across party lines to ensure Canadians get the help they need along the way, and I continue to work with my Conservative colleagues to press the Trudeau government to lay out a transparent plan to guide Canada’s recovery.”